Two more of Capitol Park's historic buildings have officially gone Gilbert. Crain's reports that Dan Gilbert finally closed a deal to buy 119 State and 45 W. Grand River. That brings his Capitol Park collection up to
three four buildings and one litter-strewn lot next to a burned-out strip club. It's true—Gilbert now owns 4,000 square feet of dirty dirt next to The Grind, a strip joint that was claimed (or cleansed) by fire in February.
None of this is too surprising. Last year, all of these properties were clumped together with the Bamlet Building as one mega-listing. Gilbert only ever copped to buying the Bamlet, but the entire bundle dropped off the market along with it. (A post from September forecasts this exact deal.)
[The Grind after the fire in February. Chris and Michelle Gerard]
Gilbert's master plan for downtown has the strip-lot filled with a residential/retail development. Don't be surprised to hear some sort of announcement in the near future. As for the other two buildings, both are historic gems dating back to the late-1800s. For now, the only tenant is a sad party store on the corner.
UPDATE: Gilbert now owns four Capitol Park buildings, not three. When writing this post, we weren't counting the loft building at 1215/1217 Griswold as an official Gilbert building because it was originally purchased by a separate LLC. It now appears on Bedrock's list of properties, so let's count it.
· Dan Gilbert's Empire Looks Ready For Capitol Park Expansion [Curbed]
· Gilbert buys 2 more Capitol Park buildings, vacant lot [Crain's]